There are many reasons why a marketer should implement inbound marketing:
- saves time
- greater success of reaching and connecting
- a higher conversion rate than outbound marketing
- it is less costly
Using traditional outbound marketing, research has revealed that the average cost-per-lead in senior housing runs from $250 to over $450 per lead. In comparison, the costs-per-lead while utilizing inbound marketing techniques is approximately $135. Reduced costs are certainly enticing if the results are the same or better.
SUCCESS IN REACH
Not only is inbound marketing at least 60% less expensive than outbound marketing, it also produces 54% more leads (hubspot). Remember the first RD blog in January that shared the statistics of people who are choosing to limit their exposure to outbound marketing? With inbound marketing, the consumer chooses to engage with you rather than you pursuing the consumer. Therefore, not only do you have success establishing a connection, you can be assured the consumer has an interest in what you are sharing.
One of the most important metrics is the conversion rate. Using the action of a consumer having taken a desired action on your website, the conversion rates for inbound marketing can be measured. For inbound marketing to reach its pinnacle of success, each marketing plan should include conversion rate optimization, assuring that a potential consumer is nurtured and guided toward the conversion funnel. When implemented correctly and consistently, a mature lead generation process can increase your conversion rate over 9% (hubspot).
Finally, inbound marketing can be a time saver with the utilization of refined CRM databases with their ability to generate metrics and follow-up connections automatically. The next step is always relevant AND timely, freeing staff to have direct conversations with potential residents who are move-ready.
Inbound marketing is a necessity for the coming year as it promises to bring in new, engaged leads and eventual sales conversions. Happy 2018!
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Our blog is written by our Retirement Dynamics team members.